Raymond James Cuts Saia (NASDAQ:SAIA) Price Target to $455.00

Saia (NASDAQ:SAIA - Free Report) had its price objective reduced by Raymond James from $540.00 to $455.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the transportation company's stock.

Several other research analysts have also recently weighed in on the company. Barclays reduced their price objective on Saia from $535.00 to $475.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. TD Cowen raised their price target on shares of Saia from $456.00 to $478.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. BMO Capital Markets upgraded shares of Saia from a "market perform" rating to an "outperform" rating and set a $455.00 price objective on the stock in a report on Monday, April 7th. Jefferies Financial Group increased their target price on shares of Saia from $525.00 to $560.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Saia in a research note on Friday, March 7th. They issued a "buy" rating and a $570.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Saia presently has a consensus rating of "Moderate Buy" and an average price target of $486.83.

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Saia Stock Down 6.0 %

SAIA stock traded down $21.08 during mid-day trading on Tuesday, hitting $330.37. 850,394 shares of the company were exchanged, compared to its average volume of 453,119. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57. Saia has a 1-year low of $287.50 and a 1-year high of $624.55. The firm's 50 day simple moving average is $396.39 and its 200 day simple moving average is $456.60. The firm has a market cap of $8.80 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.24 and a beta of 1.99.

Saia (NASDAQ:SAIA - Get Free Report) last issued its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing analysts' consensus estimates of $2.87 by ($0.03). The company had revenue of $789.00 million for the quarter, compared to analyst estimates of $794.69 million. Saia had a return on equity of 16.63% and a net margin of 11.28%. The company's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.33 earnings per share. On average, sell-side analysts predict that Saia will post 15.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Saia news, EVP Patrick D. Sugar sold 799 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $493.74, for a total transaction of $394,498.26. Following the completion of the sale, the executive vice president now directly owns 8,629 shares in the company, valued at $4,260,482.46. This trade represents a 8.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Matthew J. Batteh sold 700 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.09, for a total value of $350,063.00. Following the sale, the chief financial officer now owns 3,326 shares of the company's stock, valued at approximately $1,663,299.34. This represents a 17.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,493 shares of company stock valued at $4,646,181 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SAIA. Alliancebernstein L.P. boosted its position in shares of Saia by 69.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,939,615 shares of the transportation company's stock valued at $883,941,000 after acquiring an additional 794,197 shares during the period. Balyasny Asset Management L.P. boosted its holdings in Saia by 24,815.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 372,728 shares of the transportation company's stock valued at $169,863,000 after purchasing an additional 371,232 shares during the period. Select Equity Group L.P. acquired a new position in shares of Saia during the 4th quarter worth approximately $137,199,000. Interval Partners LP bought a new position in shares of Saia during the fourth quarter worth approximately $89,229,000. Finally, Ameriprise Financial Inc. raised its position in shares of Saia by 76.2% in the fourth quarter. Ameriprise Financial Inc. now owns 355,929 shares of the transportation company's stock valued at $162,213,000 after buying an additional 153,896 shares in the last quarter.

About Saia

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.